Case Studies

Client – 130 employee, Service Industry
In 2003 this company attempted to sell a controlling interest to a private equity firm. During the course of its normal due-diligence process the buyer discovered certain compliance problems with the seller’s Health & Welfare and Retirement plan. These problems caused the buyer to withdraw its purchase offer.

Soon thereafter the company retained Rizor & Nolan Advisors to serve as its Health & Welfare and Retirement plan consultant. Rizor & Nolan developed, implemented and administered a formal process to effectively manage the company’s benefit plans.

In 2005 the private equity firm agreed to purchase the company at a significantly higher price than its prior offer. The due diligence process was completed without issue and the transaction was completed.

The company grew rapidly over the next six years and was sold to a public company in 2011 at a significant profit. No problems or issues were discovered during the due diligence process.

Because of Rizor & Nolan’s expertise played a critical role in increasing its clients valuation and allowing it to complete these transactions without issue.

Client – 150 Employee, Physician Practice Management Company
Rizor & Nolan Advisors met with this client in 2006. The firm had recently received a significant capital infusion from a private equity firm that was concerned about several Health & Welfare and Retirement plan compliance issues. At this time the firm employed approximately 8 physicians in two states.

Rizor & Nolan Advisors was retained for the specific purpose of managing the firms Health & Welfare and retirement plan. The ultimate goal was to grow the firm and sell to a public company. Rizor & Nolan Advisors expertise was needed to properly structure and manage its benefit plans.

Five years later the firm employed approximately 140 physicians in multiple states. An offer to acquire the firm was made by a public company. The plans sailed through an extremely rigorous due diligence process and the transaction was completed.

Client – 700 Employee, Not-for-Profit
It had been several years since this firm did a review of its self-insured health benefit plan. Rizor & Nolan responded to an RFP for a limited scope engagement to provide an independent review as required under ERISA. Rizor & Nolan was awarded the engagement.

As a result of this review Rizor & Nolan was able to renegotiate the plans administrative fees saving this client hundreds of thousands of dollars. This client was so impress they hired Rizor & Nolan as their full time consultants.

Client – 50 Physician, Medical Group
This group is managed by a practice management company. The groups managers realized that there may be a problem due to the fact that this group maintained a medical expense reimbursement plan covering all physicians. The physicians were also contributing to HSA’s. The management company referred Rizor & Nolan Advisors to the group to evaluate the issue.

In fact, Rizor & Nolan found that the medical reimbursement plan did in fact violate the qualified high deductible status of their health insurance plan causing all contributions to an HSA to be disallowed.

Rizor & Nolan was able to restructure the medical expense reimbursement plan to allow for HSA contributions.